Monday, September 5 2011 18:51

Central Bank of Armenia registers issue prospectus of the third issue shares of Artsakh HPP


ArmInfo. The Central Bank of Armenia has registered the issue prospectus of the third issue nominal shares of Artsakh HPP. The press service of ArmSwissBank (the underwriter and market-maker of the issue) told ArmInfo that the relevant decision was taken by the CBA on August 30.

According to the source, a total of 3673926 shares are subject to placement for 1110 AMD per share, proving the shareholders with a prerogative when acquiring shares. The shareholders wishing to use this prerogative are to file a written application for acquisition before October 3. As regards the shares to remain after being placed within the frames of the prerogative, they are subject to open public offering fro 4 to 24 October. The underwriter and market-maker of the given issue if ArmSwissBank.

Earlier Director of Investment Department of ArmSwissBank Karen Turyan said that the decision on placement of the third tranche was dictated by the investors' demand.

To recall, the issue prospectus of the second tranche of Artsakh HPP shares worth 1.4 bln AMD was registered by the CBA on 2 November 2010, and was completely placed in December. The placement was held in two stages: - by fulfilling the prerogative right of share acquisition by the company's shareholders and by public offering. During the first stage 50 shareholders of Artsakh Bank acquired 103146 shares worth 114.5 mln AMD. The rest 1296854 shares were placed via open public offering. According to NASDAQ OMX Armenia, a total of 21 transactions worth 39.116 bln AMD have been made with Artsakh HPP shares since the moment of their circulation in the stock exchange.

To note, the IPO of the first tranche shares of Artsakh HPP was held from March 10 till may 27 2009. Within the frames of the first tranche, a total of 861652 shares worth 904.634.600 AMD were placed. A total of 3285715 shares with the nominal value of 1050 AMD each were subject to offering. The company's shares are listed B under the stock exchange abbreviation AHEK.

According to the company, at the end of Q1 2011 the accumulated profit of Artsakh HPP amounted to 1.162 bln AMD (4.2% growth by late 2010), assets - 12.964 bln AMD, authorized capital - 7.362 bln AMD, and the seniorage made up 197.1 mln AMD.

To note, Artsakh HPP OJSC is one of the leading NKR companies in the sphere of energy. It satisfies 40-60% of energy demand of Karabakh. The company will direct the funds received from placement of these shares to construction of three hydropower plants. One of them was launched before the end of 2010. Construction of the other two HPPs will be completed in 2011.
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